Micron Technology shares climbed more than 6% on Wednesday. The artificial intelligence boom continues to drive record demand for high-bandwidth memory (HBM) chips. Reports indicate that Micron has already sold out its entire HBM supply for the 2026 calendar year. Wall Street analysts project substantial earnings growth for the company through fiscal 2027.
Micron is launching a $200 billion global expansion to address the current memory shortage. The company is planning new manufacturing facilities in Boise, Idaho, and near Syracuse, New York. This capital expenditure aims to break the AI memory bottleneck and secure long-term market share. Micron also recently commenced mass production of new solid-state drives (SSDs) designed specifically for AI workloads.